MARKET TREND - ROARING STOCKS:
Yesterday
Nifty opened above the resistance zone and not given any room to look
for shorts. FIIs have continued their Buying in Equity and Derivative
Segments. DIIs have sold for the value of 263.37cr in Equity. In
Derivative Section FIIs have added 539.39 cr in Equity and 9083 cr in
Index Futures along with short coverage of 2333 cr by which OI has been
increased by 6750 contracts. As DIIs are in selling side mid cap and
small cap faced the selling pressure and reduced market breadth than
previous, even though longs are more for present day. Due to the
selective large cap stocks are being picked up by traders, volume of
stocks looks more than value of stocks and PCR closed at 1.00 by
reducing 0.06 than previous along with negative closing of cash money
flow indicators. Derivatives OI range has been improved to 7700-8000
along with active range of 7800-8000.
Today
Nifty likely to open flat with negative bias and likely to get support
at 7880 and resistance could be 7955. Positional traders can go short
with 7980/7820 SL for derivative session closing which likely to be
between 7750-7800.
NIFTY SPOT LEVELS:
Pivot: 7899
Resistance: 7916/7936/7954
Support: 7880/7861/7842
NIFTY FnO BAN: UNITECH
STOCKS FOR DAY:
APPOLO TYRES EQ: BUY > 171 TRG 175 SL 169
PRATIBHA IND EQ: BUY > 57 TRG 59.50/61 SL 55
KOTLE PATIL EQ: BUY > 164 TRG 168 SL 161
GULF OIL EQ: SELL < 166 TRG 163/160 SL 167.50
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